For the three months ended June 30, the Gurgaon-based company reported a net loss of Rs 89.4 crore on revenue from operations of Rs 1,929.8 crore.
On a sequential basis, quarterly loss narrowed to almost half from Rs 158.7 crore in the January-March quarter. Quarter-on-quarter revenue grew 3.8%.
Express parcel shipment volume grew 19% year-on-year to 182 million in the quarter. On quarter, this rose by more than 2 million shipments. Revenue from this segment increased 14% YoY to Rs 1,202 crore.
Part truckload volume expanded 44% YoY to 343,000 tonnes in the past quarter, driving revenue from the business up 34% to Rs 347 crore. Sequentially, the growth was 20%.
Supply chain services business grew 10% quarter-on-quarter, the company said, without giving exact numbers.
Discover the stories of your interest
“We have won important contracts in Q1, from marquee clients like Havells, Tata Motors (and) Mamaearth, which we expect to reflect in subsequent quarters,” managing director and chief executive Sahil Barua said.“In Q1 FY24, we expanded capacity and network footprint in line with our growth expectations for H2 of FY24,” he said in a statement released with the quarterly results.
Expenses at Rs 2,129.7 crore were about 3.4% lower than a year earlier, with finance costs falling 20.5% to Rs 19.4 crore.
The company announced that it appointed Anindya Ghose, a tech professor at New York University, as an independent director, calling him “an expert at helping companies on their AI transformation journeys”.
Delhivery’s rivals include third-party logistics companies like Ecom Express, Xpressbees, Shiprocket and others.
Before Delhivery published the results, its stock ended 5.9% higher at Rs 421.50 on the BSE.